Advanced Energy buys instrumentation company for $18M

DENVER — Advanced Energy Industries Inc. (Nasdaq: AEIS), now based in Denver but formerly headquartered in Fort Collins where it maintains a large manufacturing facility, has purchased Tegam Inc., a provider of metrology and calibration instrumentation used in semiconductor and advanced industrial markets. 

Tegam, based in Geneva, Ohio, had revenue of about $10 million in its last fiscal year. Under the terms of the agreement, Advanced Energy paid $18 million in cash for the acquisition, subject to adjustments for net working capital.

The deal adds complementary RF power instruments and calibration systems to Advanced Energy’s portfolio and expands its presence in several…